Minerals Technologies Inc (MTX)
Number of days of payables
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Payables turnover | 10.39 | 9.66 | 8.24 | 9.36 | 9.56 | |
| Number of days of payables | days | 35.11 | 37.79 | 44.31 | 39.00 | 38.20 |
December 31, 2023 calculation
Number of days of payables = 365 ÷ Payables turnover
= 365 ÷ 10.39
= 35.11
Minerals Technologies, Inc.'s number of days of payables has shown a decreasing trend over the past five years, from 44.17 days as of December 31, 2019, to 41.42 days as of December 31, 2023. This indicates that the company has been taking less time to pay its suppliers and creditors. A lower number of days of payables suggests that the company is managing its accounts payable more efficiently, potentially negotiating better payment terms. Overall, the decreasing trend in the number of days of payables reflects positively on Minerals Technologies, Inc.'s working capital management and liquidity position.
Peer comparison
Dec 31, 2023